9th Apr 2013 07:00
BASE RESOURCES LIMITED - Closing of Mukurumudzi DamBASE RESOURCES LIMITED - Closing of Mukurumudzi Dam
PR Newswire
London, April 9
Base Resources Limited (ASX:BSE, AIM:BSE) ("Base") is pleased to advise that ithas achieved another key milestone in the development of the Kwale MineralSands Project with the closing of the Mukurumudzi Dam as planned.
With a storage capacity of 8.5 gigalitres, the Mukurumudzi Dam is the primarywater resource for the Kwale Project. As a consequence, closing the dam aheadof the impending wet season was a critical milestone in ensuring sufficientprocess water is available before commissioning of the processing plant, whichremains on schedule for practical completion in the third quarter of this year.
A full PDF version of the announcement is available at the Company's website:www.baseresources.com.au.
ENDS
For further enquiries contact:
Base Resources LimitedTim CarstensManaging DirectorEmail: [email protected]: +61 (0)8 9413 7400RFC Ambrian Limited (Nominated Adviser and Broker)As Nominated Adviser
As BrokerAndrew Thomson or Trinity McIntyre Caspar Shand-KyddPhone: +61 (8) 9480 2500
Phone: +44 20 3440 6800 Tavistock Communications (UK Media Relations)Jos Simson/ Jessica Fontaine/ Emily FentonPhone: +44 (0) 207 920 3157 Cannings Purple (Australian Media Relations)Annette Ellis / Warrick HazeldineEmail: [email protected]@canningspurple.com.auPhone : 08 6314 6300 Corporate Details: Board of Directors:Andrew King Non-Executive ChairmanTim Carstens Managing DirectorColin Bwye Executive DirectorSam Willis Non-Executive DirectorMichael Anderson Non-Executive DirectorTrevor Schultz Non-Executive DirectorWinton Willesee Non-Executive Director/ Company Secretary Principal & Registered Office: Contacts:Level 1 Email: [email protected] Kings Park Road Phone: (08) 9413 7400West Perth WA 6005 Fax: (08) 9322 8912 About Base ResourcesBase Resources Limited (ASX:BSE, AIM:BSE) is a listed resources developer, witha portfolio of assets in Africa. Its flagship is the $298 million Kwale MineralSands Project in Kenya, East Africa. Kwale is fully funded and withconstruction well advanced, the project is on schedule to commence productionand shipment of a high-value assemblage of rutile, ilmenite and zircon mineralsin the latter half of 2013.
Kwale is expected to generate a cash surplus of more than US$1 billion over its13-year mine life. With a front-ended production profile forecast to deliver anenviable cash flow of more than US$550 million in the first 5 years ofoperations, Kwale will provide a strong foundation for Base Resources'emergence as a significant global resources company.
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